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March 2019 Archives

Removing an embezzlement conviction from your record

A criminal conviction for embezzlement can significantly hinder your opportunities to move with your life after you have completed whatever criminal penalties your convictions forced you to complete. For this reason, many in your same position have come to us here at Sapone & Petrillo, LLP asking if such an offense can be expunged from their public record. While that state of New York certainly does not want to hinder your chances of success following a criminal conviction, it does not provide a means through which an embezzlement conviction (or any criminal conviction, for that matter) to be expunged. However, it does allow your record to be sealed. 

Differences between Ponzi and pyramid schemes

When discussing fraudulent schemes to illegally obtain money from unsuspecting citizens, people in New York may mistakenly use the terms "Ponzi scheme" and "pyramid scheme" interchangeably. The confusion is understandable because both types of schemes function in a basically similar way. Each requires many investors to opt into it, each involves moving ill-gotten money around from person to person, and each inevitably collapses when it becomes too large to sustain itself, leaving only the original instigator with a profit. However, there are some fundamental differences that distinguish the two. 

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